Data Patterns (India) Limited has submitted its final Monitoring Agency Report for the quarter ended September 30, 2026. The report, prepared by ICRA Limited, confirms that the utilization of proceeds from the Qualified Institutional Placement (QIP) is in line with the objects of the issue. No deviation from the stated objectives has been observed, providing transparency and assurance to stakeholders regarding fund deployment.
Monitoring Agency Report Filed for QIP Proceeds
Data Patterns (India) Limited has formally submitted its Monitoring Agency Report for the second quarter of the financial year 2027, which concluded on September 30, 2026. This report, mandated by SEBI regulations, details the utilization of funds raised through the Qualified Institutional Placement (QIP).
Key Findings of the Report
The report, compiled by ICRA Limited, acting as the Monitoring Agency, states that the utilization of the QIP proceeds is consistent with the objectives disclosed in the offer document. Specifically, the report notes that there has been no deviation observed in the deployment of these funds against the originally stated purposes. The total proceeds monitored amounted to INR 487.734 Crore.
Breakdown of Fund Utilization
During the quarter ended September 30, 2026, the company utilized INR 4.400 Crore, bringing the cumulative utilization to INR 465.891 Crore. Key areas of fund deployment included:
- Funding working capital requirements of the Company: INR 168.000 Crore utilized.
- Investment in product development: INR 146.990 Crore utilized.
- Repayment/prepayment of borrowings: INR 25.000 Crore utilized.
- Funding capital expenditure for setting up an EMI-EMC Testing Facility: INR 13.636 Crore utilized.
- Funding acquisition of land (including building): INR 7.750 Crore utilized.
- General corporate purposes: INR 104.515 Crore utilized.
The unutilized amount at the end of the quarter stood at INR 21.843 Crore, primarily parked in Fixed Deposits and Monitoring Accounts.
Deployment of Unutilized Proceeds
The unutilized proceeds as of September 30, 2026, amounting to INR 24.58 Crore, were invested in various instruments, including Term Deposits with Axis Bank and Fixed Deposits with HDFC Bank, earning interest rates ranging from 5.50% to 6.85%.
Implementation Timeline
Regarding the implementation of objectives, the report indicates that all activities are generally on schedule. The investment in product development and funding for the EMI-EMC Testing Facility are noted as being delayed but on track, with the company having utilized a substantial portion of the allocated funds within the planned financial year (FY2024-2025).
The company expressed thanks for the cooperation extended by ICRA Limited during the monitoring period and assured its continued best services.
Source: BSE
